Mintage:Circulation strikes: 12,000 (experts believe these were all
melted down...the circulated examples that are known appear to be worn Proofs)Proofs: 880+

Designer: George T. Morgan
Diameter: 38.1 millimeters

Metal Content:
Silver - 90%
Copper - 10%

Weight: 26.73 grams

Edge: Reeded

Mintmark: None (for Philadelphia,
Pennsylvania) below the center of the wreath on the reverse

Notes:
Called the "King of Morgan
Dollars", the 1895 is one of the most desirable and sought-after
dates in the series. Although Mint records indicate a mintage of
12,000 circulation strikes, experts believe that only 880 Proofs were
made in 1895. The existence of several circulated examples
confuses the issue, but those are believed to have been Proofs that
were spent inadvertently. Ownership of this popular rarity is
the true measure of completeness for a collection of Morgan Dollars -
the 1895 Proof is the only real "stopper" in the series.

Presumably, Proofs
can be told apart from potential circulation strikes by the number
of edge "reeds" (the raised "bumps" on the edge
of the coin). Proofs will have 179 "reeds", whereas
circulation strikes will have some other number.

PCGS has graded more
Proofs of this date than any other, although the number may be
inflated due to re-submissions. A surprising percentage of the
coins examined by PCGS have been "spent" Proofs - 68 coins
have been certified below Proof-60. The finest 1895 Silver
Dollars graded by PCGS are a single PR-68, 4 PR-67 Cameos, and a single
PR-68 Deep Cameo.